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Freshpet, Inc. ( Freshpet, the Company, "we" or "our") is disrupting the over $56.0 billion United States pet food industry by driving consumers to reassess conventional dog and cat food offerings that have remained essentially unchanged for decades. We position our brand to benefit from mainstream trends of growing pet humanization and consumer focus on health and wellness.
Operating margin is thin at 6.87%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 13.0% YoY with margins expanding 3.0pp.
Net debt of $217M represents 17.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.14B
▲ +13.0% YoY
Net Income (TTM)
$200M
▲ +196.5% YoY
Op. Margin
8.05%
▲ +3.0pp YoY
ROIC
4.32%
▲ +1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$47M
▲ +137.7% YoY
Op. Cash Flow (TTM)
$196M
▲ +4.1% YoY
Net Debt
$113M
Cash & Equiv.
$381M
5Y CAGR: +28.2%
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